Cardano buying activity spikes within relatively short time
cardano users “Pete” referencing the Coinmarketcap chart points to a significant amount of Cardano buying activity within a relatively short period of time. “Someone is buying,” he said, “just watch out for those improvements.”
ADA was one of the top 10 most traded assets among the top 4,000 BSC whales just 24 hours ago, as data tracker WhaleStats recorded significant trading volumes for the asset.
The motives behind the mass buying are still unknown. However, Cardano users are thinking that perhaps the purchase was made with a longer term view or perhaps to profit in the short term after the Vasil hard fork.
He wrote, “Are these people buying for the long term or buying to dump on retail later after Vasil?”
The much-awaited Vasil hard fork is one of the most significant updates for Cardano yet. This is because Vasil expects to bring significant improvements to Cardano and its Plutus smart contracts.
Cardano hit its current all-time high before its Alonzo hard fork, which brought about the capabilities of smart contracts. As a result, expectations for Cardano’s price remain high ahead of the Vasil hard fork.
As reported by U.Today, the Cardano founder highlighted the timing of the market performance when he responded to a user who complained about his $5,000 worth of ADA investments. One reason for the massive Cardano buying could be the “time” story that was seen recently.
Cardano community responds to Mark Cuban’s claims
Billionaire Mark Cuban recently made claims that Dogecoin has greater utility than Cardano when he stated in an interview, “I still think Dogecoin has more applications available to it than Cardano.”
Cardano’s community-focused Twitter account, ADA Whale, believes this was a “factually incorrect statement” about Cardano.
Cardano founder Charles Hoskinson, on the other hand, has chosen to ignore the remarks by posting a “wave aside” GIF image in response to the claims.
